Making an offer on a foreclosed home?

I suggest you find a Realtor

Look at the home before doing anything, if it's been empty that long, odds are it's in shambles. Get an agent (if you don't already have one) and view properties. Sad fact about foreclosures - most need work and lots of it. Occasionally you'll find a gem out there, but you have to consider one thing about foreclosures - if the previous owners were not able to pay their mortgage, they certainly couldn't afford basic upkeep, even if they could afford it, they did not do it. Nobody invests in making repairs on something they are losing. It'd be like dry cleaning a shirt before tossing it in the garbage, totally pointless.. I'm not saying to turn your cheek at every foreclosure out there, I'm just saying be skeptical and careful before signing or offering anything.. And get an inspection, the $350ish you pay for that could save you tens of thousands in the long run. In fact your lender would likely require an inspection on a foreclosure property anyway, because they know foreclosures are often neglected..

It's doubtful that the bank is willing to sell the property for anything less than $69900. Get a real estate agent to help you make intelligent decisions on a property. Also, remember real estate is ALWAYS an investment before it is a home. Read the financial newspapers and magazines so you understand real estate in your area.

No one here can answer that question because we don't know where the house is, the condition it's in, or what other similar homes in the neighborhood are selling for. If you don't even know what to offer, you need a Realtor.

Why must your offer be reasonable? Make an offer that works for you and your finances. You should have looked at other houses so you have some idea what houses are worth in the area you are looking. The worst that can happen is that they turn down your offer.